CPA Firm Practice Management covers a wide array of topics from succession planning, human capital management and practice development. CPA Firm Practice Management also includes the use of marketing, like social media and SEO, and developing new clients. The Private Companies Practice Section is a membership section of the AICPA
consisting of public accounting firms. PCPS’s
mission is to make practicing CPAs and
their firms successful through education and
Caffeine, check. Office supplies, check. Patience for lost or late documents, check. What else do you need for tax season besides, of course, sympathetic family and friends? Knowledge and technical resources help, as does convenience in finding them – so keep these resources from the AICPA bookmarked to help you prepare returns, manage your office, advise and communicate with clients, and even keep a sense of humor.
In our last live blog from the 2013 AICPA Insights Live webcast series, Jim Metzler, CPA, AICPA Vice President - Small Firm Interests, Public Practice and Global Alliances, discusses the trends affecting CPAs, the challenges and opportunities practitioners face, as well as best practices being used at successful firms across the country. (Email subscribers: Read the live blog on our website.) Don't forget to register for the last AICPA Insights Live webcast, Worst IT Practices CPAs Can Advise Businesses to Avoid, 1 to 2 p.m. ET on Dec. 20.
When people talk about
succession, they tend to focus on issues such as valuations, buyout amounts,
deferred compensation, partnership agreements, the development of new leaders
and client retention. Not much is said about the emotional side of succession.
Let’s face it: As with any transition, succession hurts. Owners struggle with
letting go of the business and the relationships they’ve built, and the new owners struggle to gain a foothold
in their new roles.
Even in a well-planned and
executed succession, there are a number of events and circumstances that cause
some level of discomfort. Succession tests
the personal and leadership strength of the outgoing owner and, when not recognized,
can deflate the excitement of the incoming owners and even threaten their future
success. If we acknowledge this side up front, we’ll be better able to set
ourselves on a smooth and successful journey. So, what tough challenges should
we prepare for on the road to succession?
Would you recommend the
CPA profession to your kid? This is a question I used to ask the partners of my
firm in Buffalo. I did our firm’s recruiting and felt this was an important
question, because every new hire was someone’s
kid. And in a small market like Buffalo, chances were, I actually knew their
parents. I had to look those parents in the eye and tell them that when their
child accepted a job with my firm, it was the right career move. I felt it was
important for the partners to understand, if there was something in the firm
that wasn’t good enough for their own kid, they had the power to fix it.
That same question
sparked some lively discussion when I posed it to a group at the AICPA’s E.D.G.E.
conference in Austin, Texas, this month. It goes without saying that the CPA
profession provides virtually unlimited opportunities, offering a solid set of
core competencies that can be put to work in a wide range of situations. Our
CPA training and credential have formed a solid stepping stone for many of us,
myself certainly included, to a very rewarding career.
Not too long ago, Gmail started rolling out a new layout which
features different tabs to group your emails. By default, Gmail users see three
tabs: Primary, Social and Promotions. Users can now find their emails on one of
these tabs, based on Gmail’s settings. This change doesn’t just affect Gmail
through your browser, but also through the Gmail app on your smartphone. (If
you access your Gmail through IMAP or Exchange settings on your smartphone, you
will still see all emails in one inbox.) Google says it made this
change to give users more control of their inbox.